“This includes first-time buyers and investors looking to capitalise on the threshold adjustment, which now means no transfer duty is payable on properties priced up to R1million,” says MC du Toit, chief executive BidX1 SA.
“There will be bank sale residential properties for sale which offer great value. We noticed at our last auction that although properties from R500000 up to R1.8million are still very popular, there is now increasing interest in higher value stock.
“The online accessibility and transparency that BidX1 sales provide have exposed properties to a much wider buyer market. We advise potential bidders to register in good time to view the property, read all documentation, and ensure they have all the information needed for sound bidding and buying decisions.”
Du Toit says the February auction achieved some notable sales, with very active bidding on several lots - one drew as many as 69 bids.
“The number of registered bidders is increasing and there were multiple bidders on almost all the lots, with a total of about 670 bids on the day. Some prices exceeded expectation. On the whole market-related prices were achieved for properties.”
For more details, see https://bidx1.com or call 0211403541.